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Finance Act 1982
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56Close companies: apportionment of income
(1)In Schedule 16 to the Finance Act 1972 references to distributions shall be construed as including references to anything that would be a distribution but for one or both of—
(a)paragraph 1 of Schedule 18 to the [1980 c. 48.] Finance Act 1980 (demergers), and
(b)section 53 of this Act.
(2)In paragraph 12 of that Schedule, after sub-paragraph (2A) there shall be inserted—
“(2B)References in sub-paragraphs (1)(a) and (2)(b) above to the redemption or repayment of a company's share capital shall be construed as including references to the purchase by the company of its own shares.”
(3)This section has effect in relation to events occurring on or after 6th April 1982.
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